Algerian President Abdelmadjid Tebboune on Saturday said that the country has applied to join the BRICS group and submitted a request to become a shareholder member of the BRICS Bank.
 
The North African country is rich in oil and gas resources and seeking to diversify its economy.
 
The BRICS group of nations comprises Brazil, Russia, India, China, and South Africa. It accounts for more than 40 percent of the world's population and about 26 percent of the global economy.
 
More than 40 countries have expressed interest in joining the BRICS group of nations, South Africa's top diplomat in charge of relations with the bloc said this week. Argentina, Iran, Saudi Arabia, the United Arab Emirates, and Kazakhstan are among the countries that expressed interest.